PlayStation Now will have the ability to stream games from remote servers, over your home internet connection, to Sony televisions, tablets and the PlayStation 4. Gaikai, the cloud-based gaming company behind PlayStation Now’s technology, was acquired by Sony last June for $380 million. It’s widely believed that PlayStation Now will be used to give the PS4 backwards compatibility with PlayStation 3, PlayStation 2 and PSOne games.

Sony hasn’t discussed specific pricing plans yet, but it’s expected a PlayStation Now subscription will be an additional fee on top of the $49.99 a year PlayStation Plus subscription model. The ability to purchase access to individual games will also reportedly be part of the service. Netflix currently charges about $8 a month for unlimited streaming of its content on a variety of platforms.

Imagine if Sony charged a similar fee for access to PSone, PS2 and PS3 games? If PlayStation Now actually works the way it’s intended to, it could change the way many people play video games. Having a decent internet connection, at least 5mb/s according to Sony, is essential to the service working properly though.

The video also mentions that all games on the service will be fully featured, meaning you’ll have the ability to save, earn trophies and play online multiplayer, in the same way disc-based versions of the game work. There’s no word yet on whether these features will extend to PSone and PS2 games, although you’ll presumably be able to save your progress. It also hasn’t even been confirmed that PSOne and PS2 games will be playable through PlayStation Now.

PlayStation Now could change the way we play video games.

A beta for the U.S. version of PlayStation Now is set to launch later this month, with the full service launching in August. Sony recently told Gamespot that availability information for other regions will come at a later date.